Leeds credit lender IPF bounces back with an increase of £108m in pre-tax profit

Home credit lender International Personal Finance (IPF) delivered £67.7m in pre-tax profit, a year-on-year increase of £108m, for the year ended December 31, 2021, as it rebounded from the coronavirus pandemic.
By Ismail Mulla
Published 23rd Feb 2022, 08:08 BST
Updated 23rd Feb 2022, 08:10 BST

The Leeds-based lender said all of its business divisions were profitable as it announced a final dividend of 5.8 pence bringing full-year dividend to 8 pence.

Gerard Ryan, CEO at IPF, said: "We delivered an extremely strong full year performance and I am delighted to report excellent growth in credit issued, profit before tax of £67.7m and the resumption of dividends to our shareholders.

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"We are firmly in growth mode and our customers are benefitting from new products and improved customer journeys. We also attracted new bond investors and extended relationships with a number of international banking partners, which supported an improved credit outlook from Fitch Ratings.

Gerard Ryan, CEO at IPF, said: "We are firmly in growth mode and our customers are benefitting from new products and improved customer journeys."Gerard Ryan, CEO at IPF, said: "We are firmly in growth mode and our customers are benefitting from new products and improved customer journeys."
Gerard Ryan, CEO at IPF, said: "We are firmly in growth mode and our customers are benefitting from new products and improved customer journeys."

"This rebound was a strong team effort and I would like to thank my colleagues who are delivering on the essential role we play in society by providing credit responsibly and sustainably to people who are underbanked or underserved.

"Looking ahead, we intend to meet increasing customer demand and accelerate customer receivables growth by further investing in our technology, and product and channel development so consumers can access our credit offerings in a way that suits them, whether that be through our customer representative service or digitally."

Returning demand for consumer credit driven by the relaxation of Covid-19 lockdown restrictions, together with its strategy to relax credit settings to near pre-pandemic levels, is creating a good foundation on which to rebuild the digital business and deliver sustainable growth, the firm said.

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